Benoit Mandelbrot

Benoit Mandelbrot

(person)

/ben'wa man'dl-bro/ Benoit B. Mandelbrot. The IBM
scientist who wrote several original books on fractals and
gave his name to the set he was discovered, the Mandelbrot set and coined the term "fractal" in 1975 from the Latin
fractus or "to break".

Benoit Mandelbrot, however, decided to explore the mathematics of the world not in its idealized form, but as it actually appears, in all its untidiness and irregularity, devoting himself to the study, for example, of the forms of the coastlines of real islands, with all their unpredictable inlets, creeks, and furrows.

But it was rediscovered and made famous by Benoit Mandelbrot in the 1960s, who studied cotton prices and discovered far more large moves than expected if they followed a normal distribution ("The variation of certain speculative prices" 1963).

The oil market, like any other asset market, experiences abrupt regime shifts from calm trading to wild trading conditions and back again, as the legendary French mathematician Benoit Mandelbrot explained ("The (mis)behavior of markets," 2004).

founder of Ibbotson Associates, professor of finance at Yale School of Management, and partner at Zebra Capital Management; the late Benoit Mandelbrot, award-winning mathematician, Yale University professor, and IBM Fellow; and Harry Markowitz, the father of Modern Portfolio Theory.

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